Financial literacy is a core life skill that focuses on knowledge, behaviour and attitude required to make responsible money management decisions. In 2005, the OECD recommended that financial education start as early as possible and be taught in schools.

In line with OECD recommendation, National Financial Literacy Assessment Test (NFLAT) conducted by the NCFE, encourages school students of Class VI to XII, to acquire basic financial skills necessary to make informed and effective financial decisions throughout each stage of their lives.

NFLAT was launched in the year 2013-14. Globally, it is one of the largest FREE annual financial literacy test for school students.

Test Categories

The test is open for school students of Class VI to XII in 3 separate categories:

1. NFLAT Junior

For Class 6 to 8 students.

Language: English.

Mode: Only in online (computer based) mode .

2. NFLAT Middle School

For Class 9 and 10 students.

Language: English.

Mode: Only in online (computer based) mode .

3. NFLAT Senior

For Class 11 and 12 students.

Language: English.

Mode: Only in online (computer based) mode .

Rewards and Recognition

To encourage students for obtaining basic financial skills, each participating student is awarded an e-certificate, based on their performance.

Information for Schools

NFLAT 2019-20 registration will be open till 23 February, 2020

Limited seats only. Participation is on a first-come, first-serve basis.

Online Test (computer based)

The test will be held in the first week of March 2020

The test is available on Monday to Friday (excluding holidays) between 10:00 am to 5:00 pm.

Schools having a computer lab with internet connectivity can conduct the test in their premises.

Test Syllabus

For all the 3 categories of the test (NFLAT Jr, NFLAT Middle and NFLAT Sr) the syllabus will remain the same. However, the degree of difficulty will vary according the Class. The test syllabus covers the following modules:

Direct registration by the students is not allowed. For participating in the test, the student must approach his/her school.

Currently, registration is available only for those schools who want to conduct the Online Test (computer based) in their premises.

The registration and enrollment process involves the following 4 steps:

1. School Registration: In the first step the school needs to register itself for NFLAT 2019-20. Once the registration is complete, the school will receive a ‘User ID’ and ‘Password’. School Registration will be open from February 17, 2020 to February 23, 2020

2. Student Registration: in the second step, using the received ‘User ID’ and ‘Password’ , the school needs to upload the details of students interested to participate in the test. This completes the registration process. Student registration will be open soon

3. Student Enrollment: After completing the registration process, schools are required to enroll their students by selecting a ‘Date and Time’ of their choice from the available list on the page. Accordingly, each enrolled student will receive a specific ‘User ID’ and ‘Password’. Student Enrollment will be open soon

4. Take the Test: Once a student has been enrolled for a particular ‘Date and Time’, the school must ensure that he/she appears for the test using the given ‘User ID’ and ‘Password’. Examination will be conducted in the first week of March 2020.

More details about the registration process is available on the registration page. Schools are advised to read all the instructions, carefully.

Reference Study Materials for the Test

Given below are a list of downloadable study materials which may help the students prepare for the test. Students are encouraged to go through other study materials available in our website (http://www.ncfeindia.org) or any from other source. We also advise students to watch our Financial Education Video Series

A joint initiative of RBI, SEBI, IRDAI and PFRDA, the National Centre for Financial Education is working to promote financial literacy among the school community through NFLAT. When you partner with us, you create opportunities to engage your employees in their local neighborhood schools to bring positive change.

Frequently Asked Questions

Q. What is Financial Literacy?

Ans: Financial literacy is possession of sound financial knowledge and skills that empowers an individual to make informed financial decisions and take effective actions regarding their personal money management.

Q. Why is Financial Literacy necessary?

Ans: As our society and economy evolves, we have to deal with more complex financial products and services. Adding to this complexity are technological developments which has brought massive changes in financial transactions and consumer behaviour. Financial literacy can make a difference by equipping individuals with knowledge, attitude and behaviour to build a secured financial future for themselves and ultimately reach financial freedom.

Q. Why Financial Literacy in schools?

Ans: Financial literacy is as much about knowledge and skills as it is about behaviour and attitude. What better place to change the mindset about money of our future citizens than at schools? If our children do not have the basic financial skills, the poor financial decisions they will make later in life will have a lasting impact on their financial future.

Q. Is not Financial Literacy a topic for commerce students?

Ans: Most of us may not need to remember what E stands for in E= mc2 on a daily basis? But one thing is for sure, we all need to know how to handle our money wisely. So Financial Literacy is a topic for all, because no matter what you study (Arts, Science, Commerce, etc.) and what you become (Banker, Doctor, Engineer, Teacher, etc), you will have to deal with money on a daily basis.

Q. What is NFLAT?

Ans: NFLAT (National Financial Literacy Assessment Test) is a financial literacy test conducted by NCFE for school students of Class 6 to 12 with an objective to encourage them to obtain basic financial skills.

Q. Who can participate in NFLAT 2019-20?

Ans: Any student studying in Class 6 to 12 in a school recognized by any of the Central or State Educations Boards in India is eligible to participate in the test.

Q. Can a student directly register for NFLAT 2019-20?

Ans: Direct registration by students is not allowed. Approach your school to participate in NFLAT 2019-20.

Q. Is online registration mandatory?

Ans: Yes. To participate in NFLAT 2019-20, registration is available only in online mode.